Kellyville, NSW

20 newly completed individually titled residential lots -Residual Stock Loan

The subject properties are 20 individually titled residential lots within a recently completed subdivision.

The property is located in the rapidly developing suburb of Kellyville, approximately 36km north west of the Sydney CBD.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trust (BDMIT) known as the Georgia Terrace Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner and in accordance with loan documentation. The Manager has undertaken a new credit underwrite and advanced a new loan that is now the Georgia Terrace No. 2 Sub-Trust. Investors in the Georgia Terrace Sub-Trust have been fully repaid.

The Manager had previously funded a construction loan for the initial development of 40 residential lots which was completed in late 2023. The construction loan was conducted within terms and in an appropriate manner with 20 of the 40 lots having since been sold and settled.

The remaining 20 lots range in size from 450m² to 1,851m². The Loan is expected to be repaid by the ongoing sale of individual lots.

The subject property is situated nearby public bus services along Green Road. Additionally, the Hills Showground Metro Station and Kellyville Metro Station are located 4.8km and 6.3km from the sites, respectively.

The properties are conveniently located near necessary services and amenities such as Kellyville Village (where there is a Coles and 39 other various retailers), The North Village and Rouse Hill Town Centre.

The Borrower Group are experienced property investors and developers. The Group generates substantial income through its real estate development projects.

The Manager has known the Borrower Group for over 6 years and has provided multiple loans to the group. All facilities have been conducted in a prompt and punctual manner.

• The Loan was advanced at a Loan to Value Ratio of 38%.
• The Target Return is 8.70% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by first registered mortgage, a corporate guarantee and a General Security Agreement over the Borrower.
• Interest calculated as sufficient for the Term of the Loan has been lodged on deposit with the Manager.
• The Loan Term is 12 months, subject to early or late repayment, from 26 March 2024 to 25 March 2025.

Investment Details

• Target Return

  8.7% net

• Loan to Value Ratio

  38%

• Term

  10 Months

Full details, unique to each investment, are provided to Investors in a Supplementary PDS. These detailed Supplementary PDS’s are only available to Investors in Balmain Private.

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